TessStynes

But for the new year, the company projected per-share earnings of $6.10 to $6.20 on revenue growth of in the low to mid-single digits on a percentage basis compared with 2011, while analysts polled by Thomson Reuters recently expected a profit of $6.32 and revenue growth of 5% to $5.28 billion, respectively.

Biogen has cut costs and refocused itself to grow beyond its core multiple sclerosis drugs into neurology treatments in recent years.

The company said at a industry conference last month that its priorities this year include improvements to its Avonex multiple sclerosis treatment and expanding it footprint in Europe for Fampyra, which is used to improve MS patients' walking ability. Biogen remains on track to submit lead drug candidate BG-12 oral multiple sclerosis treatment for Food and Drug Administration approval in the first half of the year.

Meanwhile, U.S. regulators recently said doctors can now test for the risk of a potentially fatal brain infection associated with Tysabri, a move that likely will ease safety concerns about the MS drug.

Biogen reported a profit of $300.2 million, or $1.22 a share, up from $240.3 million, or 99 cents a share, a year earlier. Excluding items such as purchase accounting and merger-related adjustment, along with stock option expense, earnings rose to $1.51 from $1.42.

Sales of Tysabri, which is sold with Elan Corp. (ELN, ELN.DB), rose 11% to $269 million. Sales of flagship product Avonex, also an MS treatment, climbed about 8% to $703 million. Rituxan revenue from Biogen's joint venture with Roche Holding AG's (RHHBY, ROG.VX) Genentech Inc. unit, were roughly in line with the prior year at $258 million.

Shares closed Monday at $116.58 and were inactive premarket. The stock is up 78% in the past year.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.